Marvell Technology Stock Soars on AI Chip Dominance and Nvidia Partnership
Marvell Technology's (MRVL) stock has seen significant growth in recent years, and investors are wondering if it can continue to rise. In 2026, the stock opened at around $87, but quickly reached a high of over $300 in June before declining and rebounding to the $240 range.
The company's position in the AI chip stack is key to its growth story. Marvell designs custom chips for hyperscalers like Amazon, Microsoft, Alphabet (GOOGL), and Meta Platforms, rather than GPUs or specialty manufacturers. This has made it a hot semiconductor stock, with investors looking to capitalize on its potential.
In 2026, Marvell reported record revenue of $8.2 billion, up 41% year over year. The data center business grew 46% to $6.1 billion, fueled by demand for optical interconnects, custom silicon, switching, and storage. In its most recent fiscal quarter, the company generated revenue of $2.7 billion, up 37% year over year.
Nvidia's (NVDA) investment in Marvell is also a significant factor in the stock's growth story. Nvidia invested $2 billion into Marvell as part of a broader strategic collaboration, which has given Marvell access to Nvidia's NVLink Fusion ecosystem. Google's deal with Marvell, announced in June, also provides further validation for the company's custom silicon and networking equipment.
Bank of America analyst Vivek Arya forecasts that the market for custom AI processors and chips will be worth around $300 billion by 2030. Goldman Sachs estimates that the global optical-module market will grow to $148 billion by 2028. If Marvell can maintain a healthy price-to-sales ratio, a $2 trillion market cap outcome becomes less of a fantasy.